Citrix Rising: Q2 Beats, Q3 View Light, Year EPS View Beats

By Tiernan Ray

Shares of enterprise software vendor Citrix Systems (CTXS) are up 15 cents at $64.25 in late trading after the company this afternoon reported Q2 revenue and earnings per share that beat analysts’ expectations, forecast this quarter’s results below consensus, but projected full-year results higher.

Revenue in the three months ended in June rose 7%, year over year, to $782 million, yielding EPS of 83 cents, excluding some costs.

Analysts had been modeling $773 million and 61 cents.

CEO Mark Templeton said he was “pleased” with the report, and “really proud of how our team delivered greater operating efficiencies while driving our very significant pivot to mobility.”

For the current quarter, the company is modeling revenue in a range of $765 million to $775 million, and EPS of 70 cents to 73 cents, excluding some costs. That is below the average Street estimate for $786 million and 76 cents.

For the full year, Citrix sees revenue rising 8.5% to 10%. That is in line with consensus for 9.3% revenue growth. Earnings per share are seen in a range of $3.20 to $3.25, above the average $3.09 estimate per share.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.